The subsea group Harkand went into administration three days ago and Vard said it had a diving support and construction newbuilding that was in an “advanced stage of construction” on order from the company.
“The company is currently evaluating its position towards Harkand,” the Singapore-listed shipbuilder said in a statement.
Vard has received deposits equivalent to 20% of the price of the vessel. The contract signed in December 2013 was said to be worth in excess of NOK1bn ($122m).
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